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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
October 15, 2003
(Date of report; date of
earliest event reported)
Commission file number: 1-3754
GENERAL MOTORS ACCEPTANCE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 38-0572512
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
200 Renaissance Center
P.O. Box 200 Detroit, Michigan
48265-2000
(Address of principal executive offices)
(Zip Code)
(313) 556-5000
(Registrant's telephone number, including area code)
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Item 12. Results of Operations and Financial Condition
GMAC THIRD QUARTER 2003 EARNINGS SUMMARY
General Motors Acceptance Corporation (GMAC) recorded its highest third quarter
earnings ever in the third quarter of 2003, in part due to continued strong
results at the Mortgage Group. Consolidated net income of $630 million was up
$154 million from the $476 million earned in the same quarter of 2002.
For the quarter, net income from financing operations totaled $320 million, up
$17 million from the $303 million earned in the prior year. The increase
reflects lower credit loss provisions, which more than offset the unfavorable
impact of lower net interest margins.
GMAC Insurance Holdings, Inc. generated net income of $57 million in the third
quarter of 2003. Earnings were up $37 million from the same period in 2002, when
earnings were adversely affected by a write-down of certain investment
securities.
GMAC Mortgage Group, Inc. generated earnings of $253 million, up $100 million
from a year-ago, reflecting increased origination and securitization volumes in
both the residential and commercial mortgage sectors.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENERAL MOTORS ACCEPTANCE CORPORATION
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(Registrant)
Dated: October 15, 2003 /s/ William F. Muir
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William F. Muir
Executive Vice President,
Chief Financial Officer and Director
Dated: October 15, 2003 /s/ Linda K. Zukauckas
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Linda K. Zukauckas
Controller and Principal Accounting Officer